When reading the Churchill Mining PLC
and Planet Mining Pty Ltd v. Republic of Indonesia, ICSID Case No. ARB/12/14
and 12/40 (formerly Churchill Mining PLC v. Republic of Indonesia) for
the submissions. It gets very interesting when looking at the Annex A to Procedural Order No. 5 what is know as the
Redfern Schedule
Anyone notice what the importance of the disclosure is and
what evidence assist parties with investing? This is no spoon feeding
The determination of the dispute regarding Andres Rinaldi / Ridlatama ie the actual mining licences appears to be in question? Disclosure of these dealings ..which is still to be resolved presumably with the Singapore hearings?
ReplyDeleteit's partly that - look at the evidence submitted including the 'investor agreement.' Some of the documents, with no legal qualification whatsoever assist to understand the case and the likely outcome. It doesn't remove risk...
ReplyDeleteIt's interesting also that the mining licenses appear to be valid; albeit "suddenly" changed as a result! I cannot see Churchill purchasing hope value & believe the Due Diligence was completed properly or they hold significant indemnity insurance. Fraser
ReplyDeletewhats your views on this from the Churchill Mining BB on ADVFN?
ReplyDeleteweegeordie 6 May'13 - 16:38 - 12772 of 12772
imo - the ROI have tried to pass the buck to the regent and the EK province - if they succeeded in that then the claim would be devalued by a substantial amount since it would be extremely unlikely that that the province would be able to pay any substantial claim. The ruling that the ROI is the respondent means that if/when CHL win the case the compensation is going to be substantial. It also means imo that the court is saying in no uncertain terms that the ROI should not try and pass the buck since all forms of manipulation have come from government.
WG
rather irrelevant - because the Indonesia Government (ROI) is attached to proceedings has no bearing on the value of the claim - you cannot have provinces or districts of a country attached to proceedings - their decisions are the same as the government - it shows the Indo Government's desperation & lack of understanding - as mentioned awhile back the indo government has been on TV stating if they win they'll get $2B of CHL....??? Really?
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